InterOil Names New CEO

InterOil has a new name on the door of its CEO's office. The company announced that it appointed Michael Hession to be its chief executive, effective immediately.

He replaces interim CEO Gaylen Baker. Baker briefly took the helm following the departure of Phil Mulacek, who was also the founder of the company. Mulacek's retirement was announced in April, although he has continued as a director.

The incoming CEO has many years of seasoning in the oil and gas industry. His most recent position was vice president at Browse LNG Development, a unit of Australia's Woodside Energy. He also worked in several managerial capacities in various locales around the world for BP, where he began his career.

In the press release announcing Hession's appointment, Baker said the new CEO "has strong commercial ties in the industry and has shown great skill in liaising with partners and governments on complex projects."